The Democratic Socialist Republic of Sri Lanka, formerly called Ceylon, exported an estimated US$12 billion worth of goods to international markets in 2024. This performance highlights the continuing strength of Sri Lankan exports in the global economy.

That total represents a 12.3% increase compared to 2020 when export revenues stood at $10.7 billion. On a yearly basis, shipments also grew by 3.5% from the $11.6 billion recorded in 2023.

During 2024, the Sri Lankan rupee weakened by -8.5% against the US dollar, making locally produced goods priced in foreign currency more competitive in international markets. Such currency movements have helped Sri Lankan exports remain attractive to overseas buyers.

Strategically located in the Indian Ocean, just off the southeastern coast of India, Sri Lanka is a South Asian island nation well-known for its tea industry and a diverse portfolio of textile and apparel exports.

Key Trading Partners

Recent trade data indicates that about 66.3% of Sri Lankan exports went to a dozen main destinations. The leading markets included:

1. United States (24.2% of Sri Lanka's total exports)

2. United Kingdom (7.5%)

3. India (7.3%)

4. Germany (5.2%)

5. Italy (5%)

6. Netherlands (3.3%)

7. United Arab Emirates (2.8%)

8. Canada (2.7%)

9. France (2.2%)

10. Mainland China (2.1%)

11. Australia (2.06%)

12. Bangladesh (2.01%)

By region, Europe accounted for 33.9% of Sri Lankan exports, followed by Asia (30.2%) and North America (28.4%). Smaller portions went to Africa (2.7%), Oceania (2.4%), and Latin America including the Caribbean but excluding Mexico (2.39%).

With a population of 22.9 million, Sri Lanka's per capita export value worked out to roughly $525 in 2024, slightly below the $550 per person calculated in 2023.

Sri Lanka's Leading Export Categories

The following product groups generated the highest export earnings in 2024:

1. Knit or crochet apparel and accessories: US$2.9 billion (23.9% of total exports)

2. Coffee, tea, spices: $1.84 billion (15.3%)

3. Non-knit clothing and accessories: $1.79 billion (14.9%)

4. Rubber and rubber goods: $1 billion (8.3%)

5. Mineral fuels including oil: $415.7 million (3.5%)

6. Electrical machinery, equipment: $296.1 million (2.5%)

7. Gems, precious metals: $282.1 million (2.3%)

8. Prepared vegetables, fruits or nuts: $257.7 million (2.1%)

9. Fish and seafood: $257.4 million (2.1%)

10. Paper yarn and woven fabrics: $211.4 million (1.8%)

Together, Sri Lankan exports in these top 10 categories made up 76.7% of total shipments.

Among these, mineral fuels showed the strongest annual growth, up 34.1%. Exports of prepared vegetables, fruits, and nuts rose 27.1%, while paper yarn and fabrics advanced 19.7%.

On the other hand, gems and precious metals recorded the steepest decline at -27.3%, largely due to falling sales of diamonds.

At a more detailed 4-digit HS code level, tea (including flavored varieties) remained the nation's most valuable export (11.7% of the total). Other notable Sri Lankan exports included bras and corsets, women's underwear and pajamas, t-shirts and vests, rubber tires, and men's suits or trousers.

Top Export Companies in Sri Lanka

Businesses seeking reliable suppliers in Sri Lanka can use Tendata's database to identify thousands of verified exporters and analyze shipment trends.

According to Tendata, for example, in 2024, the leading Sri Lankan milk export companies included:

1.Nestlé Lanka PLC (26.91%, $34.55 million)

2.NDC Exports Pvt Ltd (12.27%, $15.76 million)

3.CBL Global Foods Ltd (12.18%, $15.63 million)

4.Renuka Agri Foods PLC (9.22%, $11.84 million)

5.Consolidated Business Systems Pvt Ltd (6.17%, $7.92 million)

6.Sanmik Food Pvt Ltd (4.97%, $6.38 million)

7.Silvermill Natural Beverages Pvt Ltd (3.72%, $4.77 million)

8.Manchiee De Coco Products (2.29%, $2.94 million)

9.Nexpo Conversions Pvt Ltd (2.2%, $2.82 million)

10.Kandetiya Agro Products Pvt Ltd (2.2%, $2.82 million)

>>Get The Full List via Tendata<<

Whether you're a seasoned trader or new to the market, analyzing Sri Lankan exports provides valuable insights into global trade opportunities. For deeper research, Tendata offers advanced tools and access to comprehensive export/import statistics.